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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2018
Jun. 30, 2017
Current Assets:    
Cash and cash equivalents $ 678,600 $ 1,025,100
Investment securities 309,100 295,500
Trade accounts receivable, less allowance for doubtful accounts of $11,600 at March 31, 2018 and June 30, 2017 1,406,700 1,179,000
Inventories 2,701,600 1,961,200
Prepaid expenses and other current assets 92,300 80,300
Total current assets 5,188,300 4,541,100
Property and equipment, net 223,100 199,300
Intangible assets, net 399,200 579,000
Goodwill 705,300 705,300
Trade accounts receivable, less current portion 245,400 245,400
Other assets 52,500 52,500
Deferred taxes 544,500 505,100
Total assets 7,358,300 6,827,700
Current Liabilities:    
Accounts payable 394,400 139,200
Accrued expenses, current portion 398,200 491,000
Bank line of credit 40,000 0
Customer advances 356,000 0
Contingent consideration, current portion 215,000 175,700
Notes payable, current portion 6,900 6,700
Total current liabilities 1,410,500 812,600
Accrued expenses, less current portion 60,000 60,000
Notes payable, less current portion 600 5,800
Contingent consideration payable, less current portion 385,000 121,300
Total liabilities 1,856,100 999,700
Shareholders' equity:    
Common stock, $.05 par value; authorized 7,000,000 shares; issued 1,513,914 shares outstanding at March 31, 2018 and June 30, 2017 75,700 75,700
Additional paid-in capital 2,542,500 2,515,900
Accumulated other comprehensive loss (4,400) (3,500)
Retained earnings 2,940,800 3,292,300
Total 5,554,600 5,880,400
Less common stock held in treasury at cost, 19,802 shares 52,400 52,400
Total shareholders' equity 5,502,200 5,828,000
Total liabilities and shareholders' equity $ 7,358,300 $ 6,827,700